Attorney Sentenced in Fraud Case

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An attorney was sentenced to more than four years probation based on a conviction for mail fraud and structuring of currency transactions. The attorney was also ordered to pay nearly $3 million in restitution to the victims of the various schemes and ordered to cooperate with the Internal

Revenue Service in determining the correct tax liability and filing amended tax returns.

Investors lost millions as a result of the fraud scheme. As part of the scheme, the attorney promised investors that a certain product could accurately predict movements in the stock market, making it possible for software users to receive high percentage returns on stock trades and option contracts, whether the market was rising or falling.

This case originated with the filing of a Suspicious Activity Report and was investigated by Internal Revenue Service-Criminal Investigation.

(Source: Internal Revenue Service)

Involving SARs
BSA Violations